Gas Prices Dropping Across Northern California, says AAA

20 October 1999

Gas Prices Dropping Across Northern California, says AAA; But Pump Prices Still Much Higher Than Last Year

    SAN FRANCISCO--Oct. 19, 1999--For the second month in a row, Northern California gas prices have fallen, AAA reported today.
    "Gas prices are down, but they're still 30 cents higher than this time last year," said Paul Moreno, spokesman for AAA of Northern California. "The price gap between West Coast and national gas prices is narrowing, but remains wide."
    The Northern California average has fallen 7 cents in four weeks to $1.49 for a gallon of self-serve regular unleaded, according to AAA's monthly gas price survey. The nine-county Bay Area average is $1.53, also down 7 cents in the same period.
    In Los Angeles today, the average gas price is $1.36, says AAA.
    Nationwide, prices are up a penny a gallon to $1.29 in a month, according to AAA. This is the highest national price since the Gulf War, when in December 1990, the U.S. average was $1.37.
    Oil prices recently hit a two-year-and-a-half year high of $25 a barrel for West Texas Intermediate, the U.S. benchmark crude oil. This is more than double the price of early this year. But prices have slipped a few dollars a barrel following reports that oil inventories were more abundant than earlier believed, said one analyst.
    "There are no prospects, none, for a real shortage of oil this winter," said Alan Kovski, an energy analyst with the Kiplinger Washington Letter.
    Meanwhile, OPEC member nations have been producing more oil than they had earlier pledged, which has helped soften crude prices, said Kovski.



Below are today's city averages in Northern California, with the price
change since Sept. 21 in parenthesis.

--  Chico, $1.41 (down 3 cents)                    
--  Concord, $1.43 (down 3 cents)                  
--  Eureka, $1.64 (down 4 cents)                   
--  Fresno, $1.40 (down 4 cents)                   
--  Lake Tahoe, $1.59 (down 8 cents)               
--  Modesto, $1.39 (down 3 cents)                  
--  Monterey, $1.48 (down 12 cents)                
--  Oakland, $1.54 (down a nickel)                 
--  Redding, $1.48 (down 7 cents)  
--  Sacramento, $1.41 (down a nickel)      
--  Salinas, $1.48 (down 9 cents)          
--  San Francisco, $1.62 (down 2 cents)    
--  San Jose, $1.51 (down 7 cents)         
--  San Mateo, $1.57 (down 9 cents)        
--  San Rafael, $1.55 (down 9 cents)       
--  Santa Cruz, $1.54 (down 4 cents)       
--  Santa Rosa, $1.49 (down 9 cents)       
--  Stockton, $1.37 (down 5 cents)

    In Nevada, gas prices average $1.46, down 2 cents in four weeks. In Utah, the average of $1.39 is down a penny in a month, according to AAA.
    Established nearly 100 years ago, AAA offers a wide array of automotive, travel, insurance and financial services. The California State Automobile Association serves nearly 4 million members and is the second largest regional affiliate of the national AAA organization.

    Note to Editors: A chart showing 12 months of city averages is available. The next AAA gas price survey will be Nov. 16.